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DeKalb committee designates 4380 Memorial Drive as urban redevelopment area; county hears $450M water/sewer bond plan and $18M URA financing timetable
Summary
The Finance, Audit and Budget Committee designated 4380 Memorial Drive in Decatur as an urban redevelopment area and approved an accompanying redevelopment plan, and county financial advisers presented plans for a roughly $450 million water and sewer revenue bond and an approximately $18 million URA financing tied to the property purchase.
The Finance, Audit and Budget Committee designated the property at 4380 Memorial Drive in Decatur as an urban redevelopment area and adopted an accompanying urban redevelopment plan. Committee members asked staff to add language specifying a future master planning process with public input; the resolution and plan were approved by voice vote.
County financial advisers from PFM presented the county's preliminary plan of finance for two separate financings: a proposed water and sewer revenue bond (new-money financing to support the water and sewer master plan) and an urban redevelopment agency (URA) revenue financing to acquire the 4380 Memorial Drive…
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